Mike Selig
@ChairmanSelig
Serving President Donald J. Trump as the 16th Chairman of the @CFTC
62 Following 13.1K Followers
.@POTUS is exactly right: America MUST lead in the race for AI, crypto, and financial innovation.
We CANNOT let outdated laws allow us to fall behind China and other countries. It's time for CLARITY.
Show more
Innovators and market participants deserve certainty when it comes to the future of crypto in America. The CLARITY Act provides comprehensive rules of the road that future-proof digital asset regulation.
This bill is must-pass legislation if the U.S. wants to remain the crypto capital of the world.
📺👇
Show more
Illinois lawmakers have placed the future of Chicago as a financial market hub at risk by instituting a “sin tax” on blockchain technology. The decelerationist law goes so far as to tax transfers of crypto assets that generate no economic gain. Subjecting Illinois residents to property ownership by permission rather than right.
As blockchain technology continues to transform our markets, the choice to plunder crypto wallets rather than promote economic growth may go down in history as Chicago’s last trade.
Read more in my piece in @WashTimesOpEd:
Show more
Cotton is one of America's most important agricultural commodities.
Under my leadership, the @CFTC is acting upon input from organizations representing the producers, ginners, and merchants that depend upon our markets to manage risk each and every day, such as the CFTC’s Agriculture Advisory Committee and American Cotton Shippers Association.
Show more
Fostering enhanced cooperation between the @CFTC and @SECgov with respect to portfolio margining promises to unleash untapped capital while ensuring a more robust risk management framework and market protections.
I look forward to reviewing and implementing stakeholder feedback as we build the new frontier of finance. Read more:
Show more
.@CFTC, SEC Seek Public Comment on the Harmonization of Portfolio Margining Frameworks:
The @CFTC's job is not to force change for the sake of change. Our job is to make sure innovation works for the people who use our markets.
Carefully balancing innovation with the day-to-day realities of American agriculture allows our farmers access to better tools and stronger markets.
Show more
Today, the @CFTC is proposing new data reporting regulations for fully collateralized event contracts.
For too long, market participants have relied on a patchwork of swap data reporting no-action letters. Under my leadership, the agency is establishing clear regulations that are built to last.
Read more 👇
Show more
.@CFTC Seeks Public Comment on Notice of Proposed Rulemaking Concerning Data Reporting Requirements for Certain Event Contracts:
On the eve of our nation's 250th birthday, we're reminded that the future of agriculture will include technology, data analytics, and modernized markets.
But it will also continue to rely on hardworking Americans willing to wake up early, work the land, take risks, merchandise, and ship cotton for not only America, but the world.
Show more
The @CFTC's roots are in regulating agricultural markets. As Chairman, I'm just as focused on ensuring that regulation works for our traditional markets as on modernizing our rules for markets on the new frontier.
Show more
Long before there was Wall Street, there was Main Street. For 250 years, farmers, ranchers, and agribusinesses have proven that domestic agricultural production is critical to America's national security.
Show more
As I’ve consistently pledged, the @CFTC is firmly committed to maintaining its exclusive jurisdiction over prediction markets, and today’s lawsuit against Kentucky is yet another example of the Commission protecting its federal authority.
More below⬇️
Show more
.@CFTC Sues Kentucky to Prevent Violation of CFTC’s Exclusive Jurisdiction:
I was pleased to address the men and women from @CottonShippers who provide our country and the world with clothes, textiles, and medical supplies from American grown cotton.
Thanks to the American Cotton Shippers Association for having me today.
Show more
The @CFTC is committed to supporting responsible innovation, while preserving the protections against manipulation and market disruption that participants and the public rely on.
Today’s request for comment on two related developments in the energy derivatives markets reflects this pledge. Read more:
Show more
.@CFTC Seeks Public Comment on the Extension of Standard Futures Contracts to 24/7 Trading and on Perpetual Contracts Referencing Physically Delivered or Storable Energy Commodities:
Show more
Today’s joint request for public comment presents an opportunity to address longstanding ambiguities within Title VII of Dodd-Frank that have stifled fair competition and responsible innovation.
I appreciate the partnership of @SECPaulSAtkins as we work together to further clarify jurisdictional lines and enhance cooperation between the @SECGov and @CFTC. Read more:
Show more
.@CFTC, SEC Seek Public Comment to Further Clarify and Harmonize Derivatives Product Definitions:
I’m proud to be working alongside @SECPaulSAtkins to streamline and harmonize swap data reporting for registrants.
I look forward to hearing from market participants about the ways we can cut red tape and reduce costs, while still collecting the data we need to conduct our market oversight responsibilities.
🗞️👇
Show more
.@CFTC, SEC Seek Public Input on Data Reporting Frameworks for Security-Based Swap and Swap Markets:
Thanks to the Exchequer Club for having me. It was great to join Paul Thornell, the Club's Chancellor, to discuss how the @CFTC is maintaining America's position as the global leader in financial markets.
Show more
Market participants should not be penalized with onerous requirements for engaging in activities that reduce their portfolio risk. The Dodd-Frank Act massively over-regulated this type of activity.
Today's @CFTC staff action provides relief to certain firms that offer or utilize post-trade risk reduction services so that regulation is better aligned with risk.
Show more
.@CFTC Staff Issues No-Action Letter for Swap Post-Trade Risk Reduction Services:
In the past, turf battles between the CFTC and SEC pushed novel products and innovators to the sidelines.
Those days are over. @SECPaulSAtkins and I are working together to bring security futures, security perpetuals, and other types of assets to market so that America remains the crypto capital of the world.
More below ⬇️: @Bankless
Show more
The @CFTC’s approval of perpetual contracts marked the first new category of derivative products approved by the agency in over a decade. A milestone for American markets, and a signal that innovation is back onshore.
@Bankless
Show more
I've said since day one that the @CFTC will be looking at perpetuals on an asset-by-asset basis.
The CFTC staff’s advisory on 24/7 trading made this point abundantly clear, and we will continue to work to ensure responsible innovation is allowed to flourish in American markets.
📺👇
Show more
